Stocks Rally on Word of Bin Laden’s Death

Stocks around the globe moved sharply higher Sunday night on word that the mastermind of the worst-ever terrorist attacks on U.S. soil had been killed.

Futures on the S&P 500 index rallied nearly 1%, while stocks in Tokyo were higher by about 2%. Oil plunged on hopes that the death of Usama bin Laden may ease some of the ongoing tensions in the Middle East. The price of gold also fell and Treasury prices eased.

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